CHICAGO, ILLINOIS – Essex Capital Markets, LLC is pleased to announce the successful financing of a five-unit multifamily property located at 2027 N. Humboldt Blvd. in Chicago’s Logan Square neighborhood.
Transaction Summary
The transaction was facilitated by Directors Asher Motew and Quinn Keenan, who arranged a $1,672,500 acquisition loan with a credit union.
The financing was secured at a 6.00% interest rate and 73.84% loan-to-value ratio, providing the sponsor with the proceeds needed to complete the acquisition.
“This asset was already one of the best-renovated buildings on the block, but the rent roll didn’t reflect it yet. Getting a lender comfortable underwriting where rents are headed, not just where they sit today, took real conviction on their part,” said Director Asher Motew. “We found a credit union willing to look past the in-place numbers and lean into the story, which meant the sponsor got the proceeds needed on day one instead of waiting a year to refinance.”
Financing Overview
Logan Square Multifamily Market
Logan Square remains one of Chicago’s most active multifamily neighborhoods, supported by strong renter demand, access to public transportation and a mix of established residential corridors and neighborhood amenities.
Well-located, renovated assets continue to attract investor interest throughout the submarket, creating opportunities for borrowers who can present lenders with a clear picture of both current operations and future income potential.
Essex Capital Markets Transaction Team
Directors Asher Motew and Quinn Keenan facilitated the financing on behalf of the sponsor.
The closing highlights Essex Capital Markets’ ability to identify lending partners that understand the potential of multifamily assets beyond their in-place performance. By pairing local market knowledge with a broad lender network, the firm continues to deliver competitive financing solutions for multifamily investors across Chicago.
Work With Commercial Real Estate Financing Advisors
Essex Capital Markets works with commercial real estate owners, investors and developers to source and structure financing across a broad network of banks, credit unions, agencies, debt funds and other capital providers.
Talk With Essex Capital Markets
About Essex Capital Markets
Essex Capital Markets is a commercial mortgage brokerage firm providing financing solutions for commercial real estate owners and investors. The firm combines institutional-level execution with access to a nationwide network of lenders to help clients identify competitive debt structures across a range of property types and transaction sizes.